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Donna
Kozik
www.DonnaKozik.com
Donna@DonnaKozik.com
619-297-1749
News Release Writing Sample
Erie
Insurance Reports Losses From Hurricane Floyd
Erie,
Pa. --- September 28, 1999 --- Erie
Insurance Group announced today that it has received
loss notification from over 7,000 policyholders in
states along the eastern United States as a result of
Hurricane Floyd. At this time, Erie Insurance Group
estimates the claims will result in incurred losses of
about $18 to $23 million.
Erie
Insurance Group writes homeowner, automobile and
commercial insurance in North Carolina, Virginia,
Maryland and eastern Pennsylvania -- states that were
affected most severely by the storm. The catastrophe
gave the company an opportunity to once again prove that
The ERIE is Above All In Service (R).
"Even
before the hurricane moved ashore, our emergency
response teams were on the scene beginning
preparations," said Stephen A. Milne, president and
chief executive officer of Erie Insurance. "Erie
Insurance provided immediate emergency financial
assistance where it was needed and continues working to
get claims handled as quickly as possible. We are
following through on our promise of service with our
efforts to help customers recover and rebuild their
lives."
Erie
Indemnity Company (NASDAQ: ERIE), managing
attorney-in-fact for Erie Insurance Exchange,
participates in the underwriting results of the Erie
Insurance Group through its 5.5 percent participation in
The ERIE’s reinsurance pooling arrangement.
Erie
Indemnity Company’s portion of incurred losses from
Hurricane Floyd, under this reinsurance pooling
arrangement, will be approximately $1 to $1.25 million
or about $.01 per share after federal income taxes.
These losses will be reflected in Erie Indemnity
Company’s third quarter 1999 results from insurance
underwriting operations.
Known
for competitive rates and superior service since 1925,
Erie Insurance Group is the 16th largest
property/casualty insurer in the United States based on
surplus and has over 2.6 million policyholders. Group
member Erie Insurance Exchange is the 13th
largest auto insurer in the country. Erie Indemnity
Company is the management company for Erie Insurance
Group, which includes seven companies operating in 10
states and the District of Columbia.
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